Plumas Bancorp (NASDAQ:PLBC) Sees Significant Growth in Short Interest

Plumas Bancorp (NASDAQ:PLBC) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 61,500 shares, a growth of 38.2% from the January 31st total of 44,500 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average trading volume of 10,200 shares, the days-to-cover ratio is currently 6.0 days.

Insiders Place Their Bets

In related news, Director Michael Kevin Foster bought 1,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of $45.67 per share, for a total transaction of $45,670.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $45,670. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by insiders.

Institutional Trading of Plumas Bancorp

Several large investors have recently made changes to their positions in PLBC. Picton Mahoney Asset Management acquired a new position in shares of Plumas Bancorp during the 4th quarter worth about $32,000. Tower Research Capital LLC TRC grew its stake in shares of Plumas Bancorp by 447.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 904 shares during the period. SG Americas Securities LLC bought a new stake in shares of Plumas Bancorp in the 4th quarter valued at approximately $105,000. Wells Fargo & Company MN grew its stake in shares of Plumas Bancorp by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 703 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Plumas Bancorp in the 4th quarter valued at approximately $222,000. Institutional investors own 41.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLBC. Stephens assumed coverage on Plumas Bancorp in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 target price for the company. Piper Sandler started coverage on Plumas Bancorp in a research report on Thursday, February 27th. They set an “overweight” rating and a $60.00 price objective for the company. Finally, Raymond James reaffirmed an “outperform” rating and set a $54.00 target price (up previously from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th.

Plumas Bancorp Trading Down 1.2 %

Shares of Plumas Bancorp stock traded down $0.55 on Tuesday, reaching $43.99. 6,697 shares of the company were exchanged, compared to its average volume of 9,744. The stock has a fifty day moving average price of $45.80 and a 200-day moving average price of $44.24. The firm has a market capitalization of $259.41 million, a price-to-earnings ratio of 9.18 and a beta of 0.70. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. On average, equities analysts anticipate that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.73%. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.27. Plumas Bancorp’s payout ratio is 25.05%.

About Plumas Bancorp

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.